Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Restricted Stock Unit and PSU Activity

The following table summarizes restricted stock awards activity for the nine months ended September 30, 2022:

	Time-Based					Market-Based
	Restricted Stock Awards					Restricted Stock Awards
	Shares			Weighted Average Grant Date Fair Value Per Share		Shares			Weighted Average Grant Date Fair Value Per Share
Unvested shares of restricted stock outstanding at December 31, 2021		369.6		$	259.94		1,628.3			111.87
Granted		362.2		$	301.86		59.5			269.00
Vested		(218.4	)	$	201.26		(0.1	)		347.62
Forfeited		(48.3	)	$	315.59		(8.1	)		280.23
Unvested shares of restricted stock outstanding at September 30, 2022		465.1		$	314.37		1,679.6		$	116.61

The following table summarizes restricted stock unit activity for the nine months ended September 30, 2022:

	Time RSUs				PSUs
	Units		Weighted Average Grant Date Fair Value Per Unit		Units			Weighted Average Grant Date Fair Value Per Unit
Unvested restricted stock units outstanding at December 31, 2021		—	$	—		37.1		$	556.50
Granted		0.5	$	377.01		51.5		$	296.07
Vested		—	$	—		—		$	—
Forfeited		—	$	—		(10.8	)	$	376.69
Unvested restricted stock units outstanding at September 30, 2022 (1)		0.5	$	377.01		77.8		$	409.13

(1)A maximum of 194,478 shares could be delivered upon settlement of PSUs based upon Paycom’s Relative TSR over the applicable performance periods.

Summary of Unrecognized Compensation Cost and Related Weighted Average Recognition Period Associated with Unvested restricted Stock Awards and Unvested Restricted Stock Units

The following table presents the unrecognized compensation cost and the related weighted average recognition period associated with unvested restricted stock awards and unvested restricted stock units awards as of September 30, 2022.

	Restricted Stock		Restricted Stock
	Awards		Units
Unrecognized compensation cost	$	235,647	$	16,191
Weighted average period for recognition (years)		3.2		1.6